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Home Infrastructure

Standard Chartered arranges US$1.1B financing for Angola water project

Staff by Staff
September 7, 2021
in Africa, Angola, Banking, Development, Finance, Infrastructure, Investing, Water
Reading Time: 1 min read
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South Atlantic Cable System from Angola to reach Brazilian coast
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Standard Chartered said on Monday that it had arranged $1.1 billion of financing to the Angolan government for a water supply project that will serve its capital Luanda.

The funding is made up of two loans – a $910 million facility supported by a partial World Bank guarantee, and $165 million backed by France’s export credit agency.

The project aims to improve access to drinking water for the capital’s over 2 million residents.

The financing will be used for investments in water production, transmission and distribution facilities, including a water treatment plant, storage facilities and new networks, Standard Chartered said in a statement.

Also read: Angola: Why you should seriously consider investing in agriculture

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Via: Reuters
Tags: AngolaBankingInfrastructureStandard CharteredStandard Chartered arranges US$1.1B financing for Angola water projectwaterwater projectанголаأنغولاアンゴラ安哥拉
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